IndustryARC, in its latest report, predicts that Copper Pipes & Tubes Market size is estimated to reach US$ 32.0 billion by 2027, growing at a CAGR of around 4.2% from 2022 to 2027. The copper pipes & tubes are strong, corrosion resistant, antibacterial, durable, and good electrical conductor, thereby used in various end-use industries. The copper pipes & tubes are used in the HVAC units, plumbing, heat exchange equipment, and others. The increasing demand of copper pipes & tubes in the HVAC and refrigeration systems and air conditioning systems is driving the copper pipes & tubes market. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.
Key takeaways:
1. The copper pipes & tubes market size will increase owing to high demand in the heat exchange systems, oil & gas transportation, plumbing, medical gas, and other construction oriented applications during the forecast period.
2. The Asia Pacific region held the largest market share in the copper pipes & tubes industry due to increasing residential construction projects, energy efficient air conditioning development and growing automotive productions in this region.
3. The demand of HVAC and refrigeration systems is high in commercial as well as residential sectors, thereby boosting the growth of the copper pipes & tubes market.
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Segmental Analysis:
1. The demand of copper pipes & tubes is high for applications in HVAC & refrigerants owing to its superior properties such as thermal conductivity, corrosion resistance, quick heat transfer, and machinability in the construction activities. It offers antibacterial and antimicrobial features for use in the HVAC units and refrigeration systems. Thus, with high demand of energy efficient HVAC systems and refrigeration, the copper pipes & tubes market will grow during the forecast period.
2. By geography, the Asia Pacific segment is the fastest-growing region in the copper pipes & tubes market and will grow by over 4.9% during the forecast period. The growth of automotive production is likely to boost the demand of copper pipes & tubes industry. According to the Society of Indian Automobile Manufactures (SIAM), the total vehicle production for 2020-21 accounted for 22.65 million vehicles in India.
3. The copper pipes & tubes have rising applications in the HVAC units in various buildings, fire sprinkler systems, office, and commercial sectors owing to its malleability, non-pyrogenic features, recyclability, and others. The copper piping and tubing for water line system in buildings, vacuum systems, water distribution in home, and other is influencing the demand of copper pipes & tubes in the construction sector.
Competitive Landscape:
The top 5 players in the Copper Pipes & Tubes industry are –
1. KMCT
2. Cerroflow Products
3. Golden Dragon
4. Kobe Steel, LTD.
5. Luvata
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